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Understanding Investing 简体中文网页 Members section

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Alfi publishes updated flyer: Luxembourg, your international ETF hub

- Publications

On 7 May 2019, Alfi published an updated version of the flyer "Luxembourg, your international ETF hub".  As the second-largest domicile for ETFs in Europe, Luxembourg has been experiencing impressive growth rates. The country's expertise in cross-border distribution is also reflected in figures of ETFs which are registered for cross-border distribution. New statistical data, as well as the main reasons to choose Luxembourg as your ETF domicile, are listed in this 2019 edition of the publication. Read the document.

Alfi publishes co-branded Efama brochure: Asset Management - Financing citizens, communities and the European economy

- Publications

On 6 May 2019, Alfi published a co-branded EFAMA brochure that aims to explain the role that asset managers play in the lives of European citizens, communities and businesses. It also delivers Efama and Alfi’s vision on the future of the investment industry and enunciates development principles intended to policymakers. Read the document in English or French.

ALFI responds to the ESMA Consultation Paper on Guidelines on liquidity stress testing in UCITS and AIFs

- ALFI statements

On the 1st of April 2019, ALFI responded to the ESMA Consultation Paper on Guidelines on liquidity stress testing in UCITS and AIFs.

ESMA has produced a set of fourteen (principles-based) draft guidelines for managers to fulfil when executing liquidity stress tests (LST) on their funds. Broadly, these guidelines set out that LST should: be tailored towards the individual fund, reflect the most applicable risks to a fund, be sufficiently extreme or unfavourable (yet plausible), sufficiently model how a manager is likely to act in times of stressed market conditions, and be embedded into the fund’s risk management framework. One guideline applies to depositaries, outlining how they should fulfil their obligations regarding LST. The guidelines were reinforced via a number of sections providing explanatory considerations for managers, to assist their compliance with the Guidelines.

Read ALFI’s response to the 32 questions.

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